970 3rd St Louisville, KY 40203-2216
This exceptional 1,245-square-foot free-standing retail building, located at 970 S 3rd St in Louisville, Kentucky, presents a unique investment opportunity. Formerly home to the beloved D. Nalley's diner for many years, this landmark property boasts a rich history and prime location within the thriving SoBro district. Built in 1960, the single-story building is zoned PD and offers ample parking at the rear. Its ideal setup for a restaurant makes it an attractive option for food and beverage businesses, but its versatile design allows for adaptation to various alternative uses. Benefitting from its proximity to both the residential areas of Old Louisville and the educational corridor (Spalding University and the University of Louisville), this property enjoys high visibility and convenient access to downtown Louisville. The building's single-tenant occupancy provides flexibility and control for the new owner or lessee. This is a rare chance to acquire a well-established property in a rapidly growing area of Louisville, offering significant potential for return on investment. The property's history as a successful neighborhood diner provides a strong foundation for future success. The ample parking is a significant advantage in a densely populated area. This property is ready for its next chapter.
-
D. Nalley's Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C2-COMMERCIAL · Louisville, KYLouisville. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.